India-China meet on trade and market access

New Delhi, Aug 26 (IANS) India will raise its growing trade deficit with China and market access for IT and IT enabled services (ITES) at the Joint Economic Group (JEG) meeting that will begin here Monday.

The balance of trade is in favour of China. In 2011-12, it provisionally stood at $39651.46 million

According to an official release, Commerce Minister Anand Sharma will meet his Chinese counterpart Chen Deming at the 9th session of JEG.

Market access for Indian agricultural products are also likely to be raised along with investment related issues and import of Indian films by China.

The Chinese side is likely to discuss ways to strengthen cooperation in trade and service trade.

Border trade issues and modes to improve investment and operation environment for Chinese enterprises in India are also likely to feature in the discussions, according to the press release.

The Indian side led by the commerce minister would include officials from the commerce and industries departments.

The Chinese delegation led by Minister Deming would include the Chinese ambassador Zhang Yan and senior members of the Chinese government.

The Joint Group on Economic Relations, Trade, Science & Technology (JEG) was formed in 1988 when then prime minister Rajiv Gandhi to Beijing.

Bilateral trade between India and China in 2011-12 stood at $75,457.42 million as compared to $59,000.36 million during 2010-11.

Exports during the same year were worth $17,902.98 million while imports stood at $57,554.44 million.

Both ministers are also scheduled to address the "India-China Entrepreneurs Dialogue", an interactive session jointly organised by FICCI and China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME).